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Convergys Closes Acquisition of Intervoice, Enhancing its Leadership in Relationship Management
CINCINNATI & DALLAS-(Business Wire)-September 4, 2008 - Convergys Corporation (NYSE: CVG), a global leader in relationship management, announces the successful closing of its acquisition of Intervoice, Inc., for $335 million in cash or $8.25 per share.
Both companies are recognized leaders in their respective domains. This combination provides clients with a suite of solutions, from a single source, that enhances customer and employee interactions and simplifies operations. With Intervoice, Convergys is extending its leadership position in relationship management adding additional strengths in the software-based interactive voice response, contact center, and mobile messaging technology and applications markets. This strong leadership position is supported by combining the innovative technology and large, global client base of both companies.
“This acquisition is about investing to address the current and future needs of our clients. Convergys is committed to delivering, and in fact enhancing, Intervoice’s product roadmap,†said Dave Dougherty, president and CEO of Convergys. “Together, we will ensure that all Intervoice and Convergys clients and partners have access to industry-leading technology, professional services, and support solutions that enhance relationship management across all touch points.â€
Convergys is already addressing strategic methods of bringing the two companies together in a way that best serves all clients, ensuring they receive the superior levels of service they have come to expect from both companies.
Here are the strategic and financial benefits of the acquisition:
- Comprehensive product and services offering - By integrating Intervoice’s complementary speech automation, Web self-service, and mobile applications, Convergys will offer a comprehensive array of automated and live agent services coming from a single source.
- Expanded client base and growth opportunities in global market - Intervoice currently serves thousands of enterprises and network service providers across multiple industries. Cross-selling opportunities will accelerate Convergys revenue growth in 2009 and beyond.
- Predictable revenue with attractive contribution margins - Intervoice revenues for its fiscal year ended February 28, 2008, were approximately $202 million. Slightly more than fifty percent of these revenues are maintenance and hosted services revenues that are predictable and recurring. These revenues should generate attractive margin contributions.
Intervoice has US locations in Dallas, Orlando, and Mountain View, California, as well as in China, Brazil, the UAE, South Africa, Singapore, Germany, the Netherlands, Ireland, and the UK. Intervoice has served more than 5,000 customers in 80 countries during its 25-year history.
About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in relationship management. We provide solutions that drive more value from the relationships our clients have with their customers and employees. Convergys turns these everyday interactions into a source of profit and strategic advantage for our clients.
For 25 years, our unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients that now span more than 70 countries and 35 languages.
Convergys is a member of the S&P 500 and has been voted a Fortune Most Admired Company for eight consecutive years. We have approximately 75,000 employees in 85 customer contact centers and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia, and our global headquarters in Cincinnati, Ohio. For more information, visit www.convergys.com
(Convergys, Intervoice, and the Convergys logo are registered trademarks of Convergys Corporation.)
To receive Convergys news releases by email, click on http://www.convergys.com/news_email.html
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